BUSINESS
Historic Strikes: Tata Steel Workers in UK Take Action After 40 Years
Unite the Union highlighted that this strike marks the first significant industrial action by UK steelworkers in over four decades aimed at disrupting Tata Steel UK's operations. The escalation follows earlier measures by Unite members, including working strictly to rule and enforcing an overtime ban.
Hindujas Appeal Swiss Court's Jail Sentences
In a statement representing the family, their solicitors condemned the authorities for having "needlessly drag[ged] the good names" of Prakash and Kamal Hinduja, both aged in their 70s, and their son Ajay and his wife Namrata through the mud over human trafficking allegations from which they have all been completely cleared. These media reports that read between the lines of immediate detention for family members were denied by the explanation of the statement that due to Swiss law, principle of presumption of innocence prevails until the final judgement by the highest judicial authority is delivered.
India Rises to Third-Largest Domestic Airline Market in the World
Based on OAG data, "India has now overtaken the Brazilian and Indonesian domestic markets to take third place, with an airline capacity of 15.6 million seats this April 2024." India seat capacity growth has been fantastic, at 6.9 percent annually in the last decade. "Among the five domestic markets analyzed, India is the fastest growing," the data says. "China follows closely with an annual growth rate of 6.3 percent from 2014 to 2024, while the US and Indonesia show significantly lower growth rates."
Indian Tech Startups Secure $4.1 Billion in First Half of 2024, Maintain Fourth-Highest Global Funding Position
Globally, India is the fourth highest in terms of tech startup funding. The United States tops the list, followed by the United Kingdom and China, as per data from Tracxn, a premier market intelligence platform.
India's Deeptech Startups Total 3,600, Securing 6th Place Globally, Says NASSCOM
According to joint findings by the Nasscom and Zinnov, over 480 of such startups have been set up in just the last year alone, compared to the preceding year of 2022, rising two times higher.
SBI Board Greenlights Rs 20,000 Crore Long-Term Bond Issue
Its shares ended 1 percent higher at Rs 854 on the Bombay Stock Exchange.
Adani Ports Shine in World Bank's Global Container Port Performance Index
Ashwani Gupta, CEO and whole time director of APSEZ, expressed an overwhelming feeling and said that he felt proud of not only the continuous effort of his team but also the unwavering commitment shown by the company toward doing something extraordinary in customer service. The CPP Index is the index of repute which grades the port on parameters such as productivity, efficiency, and reliability; it makes for a very important source of reference for all stakeholders like governments, port authorities, development agencies, and private operators in trade, logistics, and supply chain services.
RBI Forecasts India's Economy Accelerating to 8% Growth
According to indicators, current evidence shows that there is a rebound in private consumption that has become an important driver of demand with participation from the rural consumer. With public welfare spending on the verge of surging, the FMCG sector readies itself for healthy growth even in an otherwise troubled traditional walk-in business, helped by e-commerce platforms, especially in heatwaves.
SBI Study Reveals Public Sector Banks Outperform Private Rivals in Efficiency
Efficiency here is reflected through the banks' ability to effectively utilize their resources.
There has never been a better time to be an Indian, says Gautam Adani
Adani was very confident about India's growth momentum and cited the reason to be intense social and economic reforms that the government has been implementing. He further said that by 2050, India will be a USD 30 trillion economy with probably more than USD 40 trillion stock market capitalisation. Currently, it is more than USD 5 trillion, so the stock market capitalisation of India is all set to grow exponentially.
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